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EV charging software provider Kazam raises $3.6M

Kazam, a software platform for Charge Point Operators, Fleet Operators and Electricity Grids, has raised $3.6 million in a round led by Avaana Climate Fund. Other investors include Third Derivative and existing investors Inflection Point Ventures and We Founder Circle. Kazam offers a white-labelled suite of software designed to handle the end-to-end energy flow from the grid to the vehicle and its consumption.

Founded by Akshay Shekhar, CEO & Vaibhav Tyagi, CTO, the company’s business has grown to managing 150,000 kWh of electricity per month with 10% of contribution by international clients in the USA, Europe and Asia-Pacific, said a company statement. With more than 7000 charging points under management, Kazam’s immediate plan is to integrate 60,000 charging and swapping stations with its operating system in the next 14-15 months. It also plans to expand further in international markets like USA where it currently has partnerships with two Charge Point Operators managing 3,000 vehicles. In India, Kazam enables 60+ Charge Point Operators, inclusive of large e-commerce companies, 2W OEMs and Third-party Logistics companies.

Kazam’s agnostic software platform sits on a vehicle and enables total analytics of energy consumption and capacity with a battery management system. Manufacturers provide the charging point and app, with API and Software Development Kit support for mobile app development.

“Kazam is excited to have the support of Avaana Capital in our mission to digitize and democratize EV fuelling,” said Co-founder & CEO, Akshay Shekhar. “The funds will be used to extend offerings of the platform to its existing customers by investing in technology and product teams. The funds will also allow us to maintain our market leadership position in the e-mobility software segment.”

“As the EV revolution is unfolding across the world, we are thrilled to partner with Kazam in its mission to streamline electric mobility adoption through its sophisticated software stack,” said Swapna Gupta, Partner at Avaana Climate Fund. “Kazam’s hardware-agnostic capabilities position it well to capitalize on the growing demand for EVs in India as well as globally. We are confident that with Kazam’s ability to drive data-led intelligence to grid, fuelling and fleet operations, it will play a leading role in democratizing access to EV.”

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